Hughes Supply Announces Public Offering Of Stock
February 1, 2004
Hughes Supply, based in Orlando, Fla., announced a public offering of six million shares of its common stock in January, under its existing $400 million universal shelf registration statement. The wholesaler's universal shelf registration statement, as amended, provided for the possible future offer and sale of up to an aggregate of $400 million of equity and/or debt securities, and was declared effective by the Securities and Exchange Commission. Hughes said it intended to use the net proceeds from any sale of securities pursuant to the registration statement for the repayment or refinancing of debt, capital expenditures, working capital needs, the possible acquisition of businesses and other general corporate purposes. Lehman Brothers is acting as the lead underwriter for the offering. Robert W. Baird & Co., Raymond James and SunTrust Robinson Humphrey are serving as co-managers. Hughes has granted the underwriters a 30-day option to purchase up to 900,000 additional shares to cover over-allotments. The offering is being made by means of a prospectus supplement to a prospectus that is part of the company's universal shelf registration statement.